TEAMtalk is reporting that the Reds have successfully convinced the forward to ignore reported interest from the likes of Chelsea FC, Tottenham Hotspur and Manchester City to get the 20-year-old to pen a new deal at the Anfield club.
The same report reveals that FC Barcelona and Inter Milan were both also interested in signing Awoniyi, but the Reds have convinced him to stay on Merseyside.
He signed for Liverpool back in 2015 and he will be loaned out again due to work permit issues.
The same story says that the young forward has agreed terms on a new five-year contract to keep him at Liverpool FC for the foreseeable future.
Liverpool FC are thought to still be on the lookout for a number of new signings this summer as Jurgen Klopp looks to strengthen his squad ahead of next season.
The Merseyside outfit finished in fourth place in the Premier League table and without a trophy last season after they were beaten by Real Madrid in the Champions League final back in May.
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